Mastercard launches Crypto Credential in EEMEA, enabling simpler and secure crypto transfers using blockchain aliases.
Mastercard Expands Crypto Credential to UAE and Kazakhstan
Mastercard has introduced its Crypto Credential solution in the UAE and Kazakhstan, marking its debut in the EEMEA region. The service aims to simplify crypto transactions by replacing complex blockchain addresses with user-friendly aliases, the company announced on Jan. 9.
Simplifying Blockchain Transactions
The new solution allows users to send and receive tokens using aliases instead of traditional blockchain addresses. This approach enhances the user experience while maintaining secure transactions. Mastercard partnered with ATAIX Eurasia, Intebix, CoinMENA, and Fuze to enable smoother blockchain operations.
Innovating for Accessible Crypto
Gaurang Shah, Mastercard’s EVP for core payments in the region, highlighted the company’s focus on innovation. “We are committed to developing services that make crypto more accessible and secure,” Shah stated.
About Mastercard Crypto Credential
First launched in 2023, Mastercard Crypto Credential simplifies and secures crypto transactions by ensuring identity verification and asset accuracy. This solution supports interoperability across various blockchain networks.
Blockchain Aliases: Not a New Concept
While Mastercard’s service introduces convenience to crypto transactions, blockchain aliases are not entirely new. Platforms like Unstoppable Domains have been offering similar services, allowing users to replace long blockchain addresses with custom names.
Implications for the Crypto Space
The rollout in the UAE and Kazakhstan reflects Mastercard’s commitment to enhancing crypto adoption in the EEMEA region. The service is expected to drive increased usability and security in blockchain transactions, potentially influencing broader adoption.
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